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Moneta Porcupine Mines Confirms Extensions of Gold Mineralization At 55

Mining News - Published on Wed, 12 Aug 2020

Image Source: Moneta Porcupine Mines
Moneta Porcupine Mines Inc announced the results from five drill holes testing the western and eastern extensions of the 55 deposit from the current drill program. The 55 deposit forms part of the current Nl 43-101 mineral resource estimate and the drill holes are part of the 2019/2020 winter drill program completed on the Company's Golden Highway Project, 110 km east of Timmins in Ontario

Drilling at 55 has confirmed gold mineralization over 4 km continuous strike from Windjammer South to 55 including the South West deposit:
• Confirmed the western extensions of gold mineralization up to 250 m west and 150 m to the east of the current resource at 55:
o MGH20-146: Intersected 11.48 m @ 1.83 grams per tonne gold (g/t Au) including 2.60 m @ 4.04 g/t Au, including 0.69 m @ 11.60 g/t Au
o MGH20-149A: Intersected 7.30 m @ 1.24 g/t Au including 4.15 m @ 2.07 g/t Au
o MGH20-149: Intersected 5.63 m @ 1.68 g/t Au including 1.00 m @ 5.28 g/t Au
o MGH20-157: 5.45 m @ 1.61 g/t Au including 1.00 m @ 3.56 g/t Au
o MGH20-154: Intersected 5.00 m @ 1.42 g/t Au including 0.60 m @ 11.20 g/t Au o Confirmed mineralization over 600 m at 55

CEO and Chief Geologist Gary O'Connor said "The drilling at the 55 deposit has intersected gold mineralization in large step-outs at 55 extending the length of mineralization by over 400 metres. We have confirmed the extensions of flat dipping veins near surface and steeper veins at depth further extending the overall footprint of mineralization at 55. The recently completed drill program has now successfully confirmed continuous gold mineralization from 55 in the west to Windjammer South in the east for over 4.0 km. We look forward to updating the mineral resource estimate this year and to continuing to drill test the open extensions of mineralization."

The latest assay results are from the five drill holes, plus one re-drill (MGH20-149A), completed on the 2019/2020 winter drill program at the 55 deposit for a total of 2,259.0 m. The drilling was testing the western and eastern extensions of shallow dipping gold zones beyond the current Nl 43-101 resource estimate. The 55 deposit currently hosts 35,000 ounces at a grade of 5.11 g/t Au in 216,000 t in the indicated category and 45,300 oz of gold at a grade of 4.31 g/t Au in 327,0001 in the inferred category at a cut-off grade of 3.00 g/t Au. The 2019/2020 winter drill program consisting of 36 holes for 18,159.0 m was successfully completed under COVID-19 work safety protocols. The results of the drill program are now being used to update the mineral resource estimates for the 55 and Windjammer South deposits and produce a maiden resource for the new Westaway discovery, including the West Block zone.

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Posted By : Yogender Pancholi on Wed, 12 Aug 2020
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